An awards system that has helped nearly 600 students to study for careers in international business is being boosted by past recipients.

Some of those who have benefited in the past from receiving an education award from the Association of Bermuda International Companies are banding together to contribute $30,000 per year for the next three years to support a new award.

The Abicea Alumni Award was announced as the Abic education awards celebrated 40 years since inception.

A reception was held at XL Catlin for past recipients, corporate donors, scholarship committee members, mentors and dignitaries.

Among the guest speakers were local entrepreneurs who spoke about how the international business sector provides business for them. Among the speakers were Allison Smith of Confections, Meredith Andrews of Meredith Andrews Photography, Stephan Johnstone of Sjdworld Graphics, and Mat Macdonald of Two Rock Wines.

Cole Simons, Minister of Education, also attended the event where it was announced that, through the Give Back Campaign, Abicea alumni plan to contribute to support the new award.

Patrick Tannock, chairman of Abic and Abicea alumnus, said: “As part of our celebration of the anniversary, we have invited Abicea alumni to contribute to this special award that will help mature individuals, who are interested in upgrading their skill sets so that they remain relevant in an ever-evolving, highly competitive global marketplace, to pursue new educational and career goals.

“Through the Abicea Give Back Campaign we plan to raise funds directly based on financial donations from our alumni, many of whom have excelled in their professions and have made significant contributions to the island’s business sector.”

The new award will give recipients support to further education for an IB career. It is designed to attract mature students who can demonstrate a successful employment history and wish to retrain for a career in IB, or for those who have plans to pursue an undergraduate degree leading to a career in IB.

The Abic education awards, formerly known as the International Companies Education Awards, began in 1977. More than 570 students have been supported by the programme and more than 60 per cent of them are working in IB and support services.

Applications for the award are available on www.bermudascholarships.com and the closing date is April 7. Any alumni wishing to participate in the Abicea Give Back Campaign should contact Greta Peters at gpeters@abic.bm